sec.76Buying out other interests under court order

### sec.76 Buying out other interests under court order This section applies if— property that is forfeited to the State under a forfeiture order is still vested in the State; and the property or an interest in the property is required to be transferred to a person (the buyer ) under an exclusion order or an innocent interest order or under section 75 ; and the buyer’s interest in the property, immediately before the forfeiture, was not the only interest in the property. If the buyer intends to buy the other interests in the property, the buyer must give written notice to any other person who had an interest in the property immediately before the forfeiture stating— the buyer intends to buy the other interests from the State; and within 21 days after receiving the notice, the person may give the Attorney-General a written objection to the sale of the person’s interest to the buyer. If— the person given the notice does not give a written objection to the buying of the interest to the Attorney-General within the 21 days; and the buyer pays to the State an amount equal to the value of the interest; the Attorney-General must arrange for the interest to be transferred to the buyer. The Attorney-General may do, or authorise the doing of, anything necessary or convenient to be done for the transfer. (sec.76-ssec.1) This section applies if— property that is forfeited to the State under a forfeiture order is still vested in the State; and the property or an interest in the property is required to be transferred to a person (the buyer ) under an exclusion order or an innocent interest order or under section 75 ; and the buyer’s interest in the property, immediately before the forfeiture, was not the only interest in the property. (sec.76-ssec.2) If the buyer intends to buy the other interests in the property, the buyer must give written notice to any other person who had an interest in the property immediately before the forfeiture stating— the buyer intends to buy the other interests from the State; and within 21 days after receiving the notice, the person may give the Attorney-General a written objection to the sale of the person’s interest to the buyer. (sec.76-ssec.3) If— the person given the notice does not give a written objection to the buying of the interest to the Attorney-General within the 21 days; and the buyer pays to the State an amount equal to the value of the interest; the Attorney-General must arrange for the interest to be transferred to the buyer. (sec.76-ssec.4) The Attorney-General may do, or authorise the doing of, anything necessary or convenient to be done for the transfer. - (a) property that is forfeited to the State under a forfeiture order is still vested in the State; and - (b) the property or an interest in the property is required to be transferred to a person (the buyer ) under an exclusion order or an innocent interest order or under section 75 ; and - (c) the buyer’s interest in the property, immediately before the forfeiture, was not the only interest in the property. - (a) the buyer intends to buy the other interests from the State; and - (b) within 21 days after receiving the notice, the person may give the Attorney-General a written objection to the sale of the person’s interest to the buyer. - (a) the person given the notice does not give a written objection to the buying of the interest to the Attorney-General within the 21 days; and - (b) the buyer pays to the State an amount equal to the value of the interest;